Daily Market Report

GOLD Gold traded today in a very thin $8 High/Low price range. The high was $1,184 and the low was $1,176 per ounce. This being Friday a narrow trading range on light volume isn’t surprising. I look for a breakout of the recent trading range very soon. At 11am PDT today, Gold is trading at $1,180.50 per ounce, down $0.50...

GOLD After a three day rally, the Gold price took a breather and sold off on light selling; the selling was caused by strong U.S. economic data. U.S. retail sales increased 1.2% in May, topping the 1.1% growth expected by economists. Plus, U.S. import prices rose in May, after 10 months of declines, while the weekly jobless claims rose slightly...

GOLD Gold moved higher this morning for the third straight session. Gold’s rally was helped by a weaker U.S. dollar and worries over the Greek debt crisis. At 11am PDT today, Gold is trading at $1,187, up $9 per ounce on excellent volume. SILVER Considering today’s $9 Gold rally, the Silver price disappointingly is not moving higher. Plus, the Silver/Gold...

GOLD Gold rallied this morning on uncertainty over the Greek debt crisis. Greece proclaimed a new willingness to compromise with its international creditors on Monday, as German Chancellor Angela Merkel warned that time was running out for a reform-for-aid deal to keep the country in the Euro. A failure to agree on a deal could trigger safe-haven bids for Gold...

GOLD This morning Gold found excellent demand in the $1,169 per ounce area. Gold has traded today in a narrow $8 high/low price range, from $1,169 to $1,177 per ounce. I would like to see Gold move back above the key $1,180 per ounce level. At 11am PDT today, Gold is trading at $1,174 per ounce, up $5 on excellent...

GOLD The U.S. economy added 280,000 jobs last month, the best month of 2015. This news caused Gold to continue its recent decline, reaching a low of $1,162.70 before finding fresh bargain buyers. If Gold doesn’t find major support in Asia on Monday, it could test the 2015 low of $1,141.60 per ounce. Gold reached that low on March 17th...

GOLD Gold broke below the $1,180 support level in early Asian trading and technical traders shorted the Gold market, driving it down to $1,172 per ounce. At that point bargain buyers appeared and rallied the price back up to $1,178. At 11am PDT today, Gold is trading at $1,176, down $10 per ounce on heavier than average volume. The International...

GOLD This morning Gold started with a brief rally based on a weaker U.S. Dollar versus the Euro. However, a report that inventory holdings declined from a major Gold ETF (SPDR Gold Trust) quickly drove the price lower, reaching $1,180 per ounce. Holdings in SPDR Gold Trust, the world’s largest Gold ETF, fell 4.18 tonnes (to 709.89 tonnes) on Tuesday...

GOLD Gold increased in early trading yesterday, reaching a high of $1,204.50 after an announcement that U.S. consumer spending stalled in April. After the rally, Gold fell back below $1,200 after the Dollar strengthened and reports that U.S. manufacturing activity picked up in May. This morning Gold opened strong in Asia and quickly moved up to $1,196. Selling then appeared...

GOLD This morning Gold briefly broke above the important $1,200 per ounce resistance level on heavy Asian buying. After reaching a high of $1,204.50, short term profit taking hit the market, driving the price down to $1,185 per ounce. At 11am PDT today, Gold is trading at $1,189 per ounce, down $1 on excellent volume. SILVER Silver rallied with Gold...